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The Benefits and Pitfalls of Reverse Mortgages

Audio

Aired 4/19/09

Audio will be posted in the afternoon.

Alan Ray: As baby boomers get closer to retirement, they often find that most of their net worth is locked in their homes. They could sell, but that's not a good idea in a "down" real estate market that might not revive for years. And, even if they did sell, they'd need some place to live.

One alternative might be what's called a reverse mortgage which allows a person to take the money and not run.

Golden Equity Mortgage will host a free Informational Housing Expo tonight from 6 to 9pm at the Scottish Rite Event Center in Mission Valley.

Guest